Who needs a Replacement Cost Estimate?
If you think that your building may be under-insured, then you need a Replacement Cost Estimate. Certainly commercial, industrial or retail properties that are built for purpose may need an expert to determine a replacement cost. Similarly, architecturally designed houses may require a Replacement Cost Estimate.
In accordance with the Strata Schemes Management Act, all Strata Schemes must have their building/s insured. And the best way to have the building adequately insured is to have a Replacement Cost Estimate prepared by an experienced Quantity Surveyor.
Contact Quanto if you are unsure about the current level of cover of your insurance.
What does a Replacement Cost Estimate include?
A Quanto Replacement Cost Estimate will include:
- A description of the building structure, materials, services and finishings
- Works external to the building
- Building areas
- Total building cost
- Photographs
If there is anything unique or unusual about the building, this will also be noted e.g. car stacker, solar panels, swimming pool
Why use a Quantity Surveyor for a Replacement Cost Estimate?
Quantity Surveyors are the experts in estimating construction costs. We have the relevant experience necessary to determine an accurate replacement cost of a building. This includes all development costs and escalations that could arise during construction so that you can be assured that your asset is fully covered by insurance.